Brokerages Set Rocket Lab USA, Inc. (NASDAQ:RKLB) Price Target at $6.75

Rocket Lab USA, Inc. (NASDAQ:RKLB) has earned a consensus rating of “Moderate Buy” from the ten ratings firms that are covering the firm, MarketBeat Ratings reports. Four analysts have rated the stock with a hold recommendation and six have issued a buy recommendation on the company. The average 1-year target price among analysts that have issued ratings on the stock in the last year is $6.86.

Several research firms have commented on RKLB. The Goldman Sachs Group started coverage on Rocket Lab USA in a research note on Tuesday, June 11th. They set a “neutral” rating and a $4.50 price objective for the company. Roth Mkm reiterated a “buy” rating and issued a $7.00 target price on shares of Rocket Lab USA in a report on Tuesday, June 18th. Morgan Stanley lowered shares of Rocket Lab USA from an “overweight” rating to an “equal weight” rating and reduced their target price for the stock from $8.00 to $6.00 in a report on Monday, July 15th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $7.00 price target on shares of Rocket Lab USA in a research note on Tuesday, September 3rd. Finally, BTIG Research started coverage on Rocket Lab USA in a report on Wednesday, June 26th. They issued a “neutral” rating for the company.

Rocket Lab USA Price Performance

Shares of NASDAQ RKLB opened at $5.81 on Tuesday. The business’s 50 day moving average price is $5.56 and its 200 day moving average price is $4.68. The firm has a market cap of $2.86 billion, a P/E ratio of -15.70 and a beta of 1.27. The company has a quick ratio of 2.43, a current ratio of 2.82 and a debt-to-equity ratio of 0.90. Rocket Lab USA has a 52 week low of $3.47 and a 52 week high of $7.36.

Rocket Lab USA (NASDAQ:RKLB) last posted its earnings results on Thursday, August 8th. The rocket manufacturer reported ($0.08) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.10) by $0.02. Rocket Lab USA had a negative net margin of 54.17% and a negative return on equity of 34.12%. The firm had revenue of $106.25 million during the quarter, compared to analysts’ expectations of $105.47 million. During the same period in the previous year, the business posted ($0.10) EPS. The business’s revenue was up 71.2% compared to the same quarter last year. On average, sell-side analysts expect that Rocket Lab USA will post -0.4 earnings per share for the current year.

Insider Buying and Selling at Rocket Lab USA

In other news, Director Michael D. Griffin sold 39,446 shares of the business’s stock in a transaction dated Thursday, August 22nd. The shares were sold at an average price of $6.90, for a total transaction of $272,177.40. Following the transaction, the director now directly owns 42,353 shares in the company, valued at $292,235.70. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, Director Michael D. Griffin sold 39,446 shares of the stock in a transaction dated Thursday, August 22nd. The shares were sold at an average price of $6.90, for a total value of $272,177.40. Following the completion of the transaction, the director now owns 42,353 shares in the company, valued at approximately $292,235.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, General Counsel Arjun Kampani sold 28,563 shares of the business’s stock in a transaction that occurred on Thursday, August 22nd. The stock was sold at an average price of $6.96, for a total value of $198,798.48. Following the sale, the general counsel now directly owns 637,558 shares in the company, valued at approximately $4,437,403.68. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 130,521 shares of company stock worth $906,059. 13.70% of the stock is currently owned by insiders.

Institutional Trading of Rocket Lab USA

A number of large investors have recently made changes to their positions in RKLB. International Assets Investment Management LLC purchased a new stake in shares of Rocket Lab USA during the 2nd quarter valued at $46,000. Spire Wealth Management lifted its holdings in Rocket Lab USA by 257.1% in the first quarter. Spire Wealth Management now owns 10,000 shares of the rocket manufacturer’s stock worth $41,000 after purchasing an additional 7,200 shares during the period. Baxter Bros Inc. acquired a new stake in Rocket Lab USA in the second quarter worth approximately $48,000. Advisors Asset Management Inc. grew its holdings in Rocket Lab USA by 59.4% during the first quarter. Advisors Asset Management Inc. now owns 10,816 shares of the rocket manufacturer’s stock worth $44,000 after acquiring an additional 4,032 shares during the period. Finally, Brown Advisory Inc. acquired a new stake in Rocket Lab USA during the fourth quarter valued at approximately $61,000. Institutional investors and hedge funds own 71.78% of the company’s stock.

About Rocket Lab USA

Rocket Lab USA, Inc, a space company, provides launch services and space systems solutions for the space and defense industries. The company provides launch services, spacecraft design services, spacecraft components, spacecraft manufacturing, and other spacecraft and on-orbit management solutions; and constellation management services, as well as designs and manufactures small and medium-class rockets.